| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-42,795 | -493 | -14,159 | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation | ||||||
7,605 | 7,223 | 6,441 | ||||
Amortization of discount on marketable securities | ||||||
1,123 | 876 | -241 | ||||
Stock-based compensation expense | ||||||
12,981 | 9,962 | 7,717 | ||||
Change in fair value of convertible preferred stock warrant liability | ||||||
- | 77 | 3 | ||||
Other non-cash expenses | ||||||
-98 | -91 | -82 | ||||
Changes in operating assets and liabilities: | ||||||
Related party receivable from collaboration | ||||||
1,537 | 3,669 | -2,769 | ||||
Prepaid expenses and other assets | ||||||
1,988 | 4,365 | 1,103 | ||||
Accounts payable | ||||||
3,642 | 3,484 | -4,230 | ||||
Accrued expenses and other liabilities | ||||||
8,877 | 4,059 | 2,603 | ||||
Deferred rent | ||||||
2,683 | 1,957 | 1,256 | ||||
Deferred revenue | ||||||
-24,251 | -21,133 | -16,521 | ||||
Net cash used in operating activities | ||||||
-41,174 | -7,597 | -17,413 | ||||
Cash flows from investing activities | ||||||
Purchase of marketable securities | ||||||
134,306 | 133,609 | 217,291 | ||||
Proceeds from sales and maturities of marketable securities | ||||||
186,518 | 178,182 | 220,917 | ||||
Purchase of property and equipment | ||||||
3,489 | 5,844 | 6,422 | ||||
Net cash provided by investing activities | ||||||
48,723 | 38,729 | -2,796 | ||||
Cash flows from financing activities | ||||||
Proceeds from issuance of common stock upon initial public offering, net of issuance costs | ||||||
109,959 | - | - | ||||
Proceeds from issuance of common stock upon completion of private placement | ||||||
65,947 | - | - | ||||
Proceeds from issuance of common stock upon exercise of stock options | ||||||
3,575 | 2,583 | 339 | ||||
Proceeds from issuance of common stock in connection with employee stock purchase plan | ||||||
1,270 | - | - | ||||
Repurchase of common stock | ||||||
- | 185 | - | ||||
Payments of deferred financing costs | ||||||
- | 2,200 | - | ||||
Net cash provided by (used in) financing activities | ||||||
180,751 | 198 | 339 | ||||
Net increase (decrease) in cash and cash equivalents | ||||||
188,300 | 31,330 | -19,870 | ||||
Supplemental disclosures of cash flow information: | ||||||
Income taxes paid | ||||||
- | 1 | 536 | ||||
Non-cash investing and financing activities: | ||||||
Net exercise of convertible preferred stock warrant to Series A preferred stock | ||||||
198 | - | - | ||||
Vesting of common stock from early exercises | ||||||
993 | 764 | 527 | ||||
Cost of property and equipment in accounts payable and accrued liabilities | ||||||
305 | 607 | 208 | ||||
Deferred IPO costs in accounts payable and accrued liabilities | ||||||
- | 92 | - | ||||